Thu.Apr 04, 2024

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How Federal Debt May Impact Banking

South State Correspondent

The Federal debt is already impacting banking. Cyclical economic changes are driven by business cycles. These changes may occur swiftly, such as interest rate changes, inflation changes, or unemployment rate changes. Cyclical changes and their impact on the economy dominate the news and the attention of corporate boardrooms because they are immediate and need to be addressed in real-time.

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Fiserv to let Brazilians use Pix in US

Payments Dive

The payments processing giant is providing support to extend the Brazilian instant payments system to merchants and consumers around the world.

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What #Banking Trend Will Have the Greatest Impact on Your Bank?

Jeff For Banks

This was the question posed to Bank Profitability students as part of the Oregon Bankers' Association's Executive Development Program (EDP). These were up-and-coming bankers, the future leaders of our industry, identifying industry trends that will have the greatest impact on their bank, in no particular order. 1. Interest Rates So many financial institutions had a positive GAP (assets that are maturing or repricing within one year minus liabilities that are maturing or repricing within one year

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NY Fed enters cross-border tokenization effort

Payments Dive

The central bank will join six other central banks in exploring blockchain technology to speed up international payments.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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US banks ‘sabotaging’ own net zero plans by livestock financing, report claims

TheGuardian

Lending to meat, dairy and feed corporations led to ‘significant proportion’ of banks’ emissions, Friends of the Earth found American banks are “sabotaging” their own climate commitments by financing meat, dairy and feed corporations, according to a report. The report analysed funding from 58 US banks to animal protein and feed companies in the form of loans and underwriting, such as share and bond issuance guarantees.

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More Trending

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TD Bank deploys virtual reality for training

BankInovation

TD Bank is experimenting with virtual reality to build practical skill sets through controlled customer simulations, leading to improved employee training. “TD has been experimenting with different immersive experiences for colleagues and customers,” TD Product Manager Kerry Narduzzi told Bank Automation News.

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Gender pay gap among UK staff at Goldman Sachs at highest level in six years

TheGuardian

Women’s average hourly pay 54% less than men’s in 2023, raising concerns about female representation in senior roles The gender pay gap among UK staff at Goldman Sachs has hit its highest level in six years, raising concerns about a lack of women among the bank’s most senior ranks. Data submitted to the UK government showed that the average hourly pay gap widened at its main UK entity, Goldman Sachs International (GSI), with women receiving 54% less than their male colleagues in 2023.

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ACI moves real-time payments onboarding to cloud

BankInovation

ACI Worldwide is exploring the use of its cloud platform to onboard bank clients to The Clearing House’s Real-Time Payments network.

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Buy the People: Why everyone loves to hate the Fed

American Banker

The Federal Reserve, historically a secretive and isolated institution, has made a concerted effort to explain itself to and be understood by the public since 2008. But try as it might, the central bank is still viewed by many as an enigma, if not an enemy.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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TODAQ launches micropayments and AI conversational checkout

The Paypers

TODAQ has announced the public beta launch of TAPPTM (Tap-and-Privately-Pay) and TAPP Conversational CheckoutTM AI sales agents.

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SBA forges ahead with Funding Circle license despite pushback

American Banker

The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.

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Trustly expands collaboration with Cross River Bank

The Paypers

Open Banking payments provider Trustly has announced the expansion of its collaboration with Cross River Bank , aiming to provide instant payments by adding the FedNow Service.

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In latest move, Cadence reorganizes its management structure

American Banker

The Tupelo, Mississippi, company announced a management simplification plan in which several executives, including the president and the chief financial officer, are gaining new responsibilities. Most of the changes took effect April 1.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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FDIC unveils updated financial inclusion strategic plan

ABA Community Banking

The FDIC has released an updated financial inclusion strategic plan that calls on the agency to take steps to encourage bank lending, investments and services that support healthy communities, including in low- and moderate-income neighborhoods and other underserved communities, FDIC Chairman Martin Gruenberg said. The post FDIC unveils updated financial inclusion strategic plan appeared first on ABA Banking Journal.

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Will the Fed's master account victories stand the test of time?

American Banker

The Federal Reserve scored some important legal victories in lawsuits challenging its discretion to grant or deny applicants for master accounts. But whether those victories will last through the appeals process or scrutiny from Congress is uncertain.

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PortX, eXate partner to boost data security and compliance

The Paypers

US-based provider of integration technology for financial institutions (FIs), PortX , has announced entering a strategic partnership with forefront innovator in data privacy and protection solutions, eXate.

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Which large language models are best for banks?

American Banker

A new, free leaderboard created and continuously updated by the Kensho team at S&P Global gives people in the financial industry a sense of which generative AI models work best for specific use cases.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Swan partners with Wise Platform

The Paypers

France-based Embedded Finance platform Swan has entered a collaboration with Wise Platform in a bid to allow its clients to transfer money from over 190 countries.

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The forces driving JPMorgan Chase to build a digital media business

American Banker

The credit and debit card-issuing giant's Chase Media Solutions will help fund new loyalty programs to offset downward pressure on card-swipe fees and the potential erosion of card spending volume from the rise of faster payments and open banking, experts say.

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Visa launches Subscription Manager

The Paypers

Multinational payment card services company Visa has announced the launch of Subscription Manager, a service for tracking subscriptions conveniently.

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Wyoming community bank winds down fintech program

American Banker

The Federal Reserve issued an enforcement action against Mode Eleven Bancorp, the holding company for Summit National Bank, which engages in banking-as-a-service.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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TD and Google Cloud partner for innovative banking experiences

The Paypers

TD Bank Group has partnered with Google Cloud to enhance banking experiences and streamline innovation, leveraging Google's secure infrastructure.

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Fraud will be harder to stop without changes to open banking rule

American Banker

The CFPB should change its proposal and allow fintechs and other financial services companies the same freedom to innovate that entrenched large banks already enjoy.

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How to “Turn Off the Noise” and Finally Get Marketing That Works [VIDEO]

The Emmerich Group

I believe accountable people make the world go around. In this session, I’ll show you how to get everyone in your bank thinking about how to go get the next best customers at premium pricing. If you’re the kind of leader who has the traditional marketing department and they do “their thing” and nobody quite understands the why or the how except those in the department, that’s very typical.

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Winners of 2023 bank crisis are finding the new spotlight harsh

American Banker

The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.